Weekender
pfm Member
Earliest retirement in Local Govt is 55 with 30 years service (the 85 rule) and this comes with substantial cut to benefits (approx 40% reduction in pension)...unless it is 2011 and there is an onus on the Employer to get rid to meet massive cuts to support grant from central govt. They offered early retirement with no cut to benefits at that point. Capital costs came from reserves in the case of the large City Council I work for in the NW...all praise the Airport Dividend...not much of that of late.